UK Report Accuses PwC of Tax Avoidance on Industrial Scale

February 6, 2015 11:54 AM

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A British parliamentary committee has accused the accounting firm PwC of promoting tax avoidance on an industrial scale, and called for the government to step in and do more to regulate the tax industry.

The Public Accounts Committee says in a scathing report Friday that PwC mass-marketed tax avoidance plans, diverting profits to Luxembourg through intra-company loans.